Stock markets have been a one-way bet for many years thanks to the 'Fed put' – but those days are over
ECB hikes key rates by 50 basis points, EUR/GBP spikes over 0.95%
Chart - Courtesy Trading View
EUR/GBP spiked over 0.95% and was trading at 0.8575 at around 12:25 GMT.
The single currency buoyed across the board after the European Central Bank (ECB) announced a 50 basis points rate hike.
Markets were expecting the ECB to hike its rates by 25 bps and the move saw a knee jerk reaction across euro crosses.
Focus remains on the post-meeting press conference, Lagarde's comments might infuse some volatility.
Technical indicators have turned bullish. Price action is testing cloud top resistance. Breakout will buoy the pair higher.
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